Short Interest in Sempra Energy (NYSE:SRE) Drops By 18.4%

Last updated on Thursday, June 17, 2021 | 2021 MarketBeat

Sempra Energy (NYSE:SRE) saw a large drop in short interest in the month of May. As of May 28th, there was short interest totalling 4,660,000 shares, a drop of 18.4% from the May 13th total of 5,710,000 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 3.0 days.

NYSE SRE traded down $0.58 during trading hours on Thursday, hitting $140.58. 1,296,247 shares of the stock were exchanged, compared to its average volume of 1,647,959. The company has a market cap of $42.56 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 3.30 and a beta of 0.63. Sempra Energy has a 12-month low of $112.16 and a 12-month high of $144.93. The stock has a 50-day moving average of $137.33. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 0.91.

Sempra Energy (NYSE:SRE) last issued its earnings results on Wednesday, May 5th. The utilities provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.18. Sempra Energy had a net margin of 34.58% and a return on equity of 10.55%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the business posted $2.47 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts expect that Sempra Energy will post 7.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, July 7th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, July 6th. This represents a $4.40 annualized dividend and a dividend yield of 3.13%. Sempra Energy's dividend payout ratio is presently 54.79%.

Hedge funds have recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC acquired a new stake in shares of Sempra Energy in the fourth quarter valued at approximately $26,000. Logan Capital Management Inc. acquired a new stake in Sempra Energy during the first quarter worth approximately $30,000. Wealthcare Advisory Partners LLC acquired a new stake in Sempra Energy during the first quarter worth approximately $31,000. HBC Financial Services PLLC acquired a new stake in Sempra Energy during the first quarter worth approximately $34,000. Finally, CVA Family Office LLC acquired a new stake in Sempra Energy during the first quarter worth approximately $38,000. Institutional investors and hedge funds own 83.86% of the company's stock.

A number of equities research analysts have recently commented on SRE shares. Morgan Stanley raised their target price on Sempra Energy from $152.00 to $157.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 4th. BMO Capital Markets raised their target price on shares of Sempra Energy from $142.00 to $147.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 6th. Seaport Global Securities reaffirmed a "neutral" rating on shares of Sempra Energy in a research report on Tuesday, April 13th. Barclays boosted their target price on Sempra Energy from $145.00 to $158.00 and gave the company an "overweight" rating in a research report on Tuesday, May 25th. Finally, Wells Fargo & Company boosted their price target on shares of Sempra Energy from $139.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, May 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Sempra Energy has an average rating of "Buy" and an average price target of $149.71.

About Sempra Energy

Sempra Energy operates as an energy-services holding company in the United States and internationally. The company's San Diego Gas & Electric Company segment generates, transmits, and distributes electricity; and supplies natural gas. It offers electric services to approximately 3.7 million population and natural gas services to approximately 3.4 million population that covers 4,100 square miles.

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